E-commerce is the short form of electronic commerce. It is defined as the buying and selling activities over the Internet, without the brick-and-mortar stores. Indeed, one is engaging in the e-commerce more frequently and easily than one could imagine. Whenever you buy a concert ticket online, buy a gorgeous clothing on Amazon.com or you sell a second-hand book on eBay.com, you are taking part in the e-commerce.
To know what is e-commerce, we can look at the four different types of e-commerce: Business-to- customer(B2C): this includes all online shopping of any kinds of consumer goods such as clothing, electronic devices, food or cosmetic products. Business-to- business (B2B): This is the transaction between two business companies that for example, an airline company sells the flight tickets to the travel agency, which the travel agency is not the final consumer.
Customer-to- business (C2B): It encompasses the transactions where the customer becomes the seller of good and services, and the company becomes the buyer. For instance, a person sells his/her innovative idea or design to a company. Customer-to- customer (C2C): This refers to the online transaction between consumers with a third party who provides the exchange platform. One example is when two people make a transaction through an auction website.
E-commerce has been being developed tremendously in the marketing field in recent years. This trend has brought about many advantages to the world commerce. To the seller, such growth expands the sales online that helps boost the total revenue. Also, it favors the establishments of small businesses as e-commerce has a low setup cost. With the help of cookie and big data, a company has gained a better understanding of customer’s preferences through the online transaction system.
To the buyer, it is much easier for them to compare the qualities and prices of different products that they just have to visit the shopping search engine. To add with, there is no time restriction that you can make a purchase 24/7, nor geographical barriers, which you can get accessed to store located remotely. One more thing, you do not have to queue up at the cashier as which you may usually have to, at the virtual stores. This could save you a lot of time.
In e-commerce, transactions can be made with so many conveniences. Do not forget to use e-commerce precisely and properly to make the most of it!